Oregon law (ORS 293.875) designates the State Treasurer as the sole banking and cash management officer for the state. Via that designation, Oregon State Treasury (“OST” or “Treasury”) has broad authority to review, establish, and modify policies and procedures for the efficient handling of cash and cash equivalents under the control of all state agencies, including universities. Treasury acts as the bank for all state agencies, contracting with private banks and financial services providers to deliver a variety of cash management services to those agencies including: primary depository services, ACH services, lockbox services, and more. This relationship is described as the Banking Services Triangle
and is more fully described in the Cash Management Manual
Additionally, OST negotiates with our partner banks to provide a variety of optional cash management services that agencies, at their own discretion, may choose to utilize. These services include, but are not limited to remote deposit capture and online payment solutions. Via our negotiations with our partners, we work to ensure that all public depository and other regulatory requirements for these services are met. For these optional service types, agencies may still choose to use other vendors as long as their normal contracting process is followed and any 3rd Party Vendor requirements
(public funds and regulatory requirements) are met.
The current 2013-15 Biennium Price List for Banking Services can be accessed here.